Luxury tea startup The Good Life Company has announced To venture into the luxury coffee segment to get in competition of evolving food market and consumer preferences.
Shariq Ashraf, Co-founder, TGL Co. said, "We have been closely studying the consumer market in India and have realised that there is an evolving consumer preference for higher quality, fresher, premium coffees. This prompted us to conduct extensive R&D that resulted in us sourcing world class coffees from the finest estates around the world.”
A release from the startup said, the Indian tea and coffee market is growing rapidly and is expected to touch Rs.25,000 crore by 2021, of which coffee constitutes Rs. 5,000 crore. This can further be split into instant coffee (60%) and specialty coffee (40%).
Bhuman Dani, co-founder, TGL Co. said, “Our ultimate aim is to create a 100-crore business in the luxury indulgences category. We are leveraging our existing sales channels (ones we use for our teas) to promote our coffees aggressively and create an awareness for such high-quality brews”.
TGL Co, a 15 month old Indian startup has expanded rapidly in the B2B segment with its teas now available at more than 160 hotels, restaurants and cafes across 9 cities including popular properties such as Taj Hotels, HYATT Regency, Westin, SOFITEL and The Lalit besides multiple others. After having more than 300 recipes of tea blends developed in its R&D centre, the company has now forayed into the luxury coffee which is classified into four collections - International, Indian, Flavoured and Instant Coffees.
The startup had raised its seed round of funding in April 2017 from restauranteur Farhan Azmi and his wife and bollywood actres Ayesha Takia Azmi.
The startup further plans to launch its international website for teas and coffees and kickstart sales on Amazon Launchpad EU and UK thereafter. They are currently available at Godrej Natures Basket stores across Mumbai and Bengaluru - Bandra, Powai, Oberoi Mall, Worli, Churchgate, Warden Road, Prabhadevi and yet to be launched Juhu store in Mumbai, while Gear School Road (GSR), Whitefield, Indiranagar and Sadashivnagar in Bengaluru.
